What Is India’s Biggest Export in 2025? Goods vs Services Explained

India imports a lot of crude oil. Yet the single biggest product it sells to the world is refined fuel. That twist often confuses people-and it hides a second truth: if you count services, India’s top export earner is software and IT services. This guide gives you the direct answer, explains the why, and shows you how to check the latest numbers yourself without getting lost in jargon or PDFs.

• India biggest export (merchandise/goods): refined petroleum products (diesel, petrol, aviation fuel) by value in recent years.
• India’s top export overall (including services): computer/IT services are the largest single earner.
• Where it goes: big buyers for fuels include the Netherlands (Rotterdam hub), UAE, USA, Singapore; IT services sell mainly to the USA, UK, EU.
• How to verify quickly: check the Ministry of Commerce monthly “Quick Estimates” for goods; use RBI Balance of Payments tables for services.
• 2025 context: fuel stays on top for goods; electronics and pharma are climbing; gems and jewellery are choppy; services remain strong.

The short answer and what it actually means

People ask one question but mean two different things. Do you mean the biggest export product India ships as a physical good? Or the biggest export earner across both goods and services?

For goods, refined petroleum products lead by value. This includes diesel, petrol (gasoline), aviation turbine fuel, naphtha, and other refined products under HS Chapter 27. India imports crude oil, refines it in large complex refineries, and exports high-value fuels to markets in Europe, Asia, and Africa.

For total exports (goods + services), computer/IT services stand at the top. Think application development, maintenance, cloud, cybersecurity, data and analytics, and increasingly AI and platform work. These services are billed mainly in USD and GBP to clients in the USA, UK, and the EU.

Why the mismatch? Trade stats split into two buckets: merchandise and services. It’s normal for a country’s top physical shipment to be different from its top service category. In India’s case, the refinery sector concentrates value in one product group, while services are spread across thousands of tech firms but counted under one line item.

There’s another wrinkle: “engineering goods” (a broad basket of machinery, transport parts, industrial equipment) often shows up as the biggest sector among merchandise when you group many HS codes together. But the single biggest product group, when you look at one coherent category, is refined petroleum products. That’s the cleanest way to answer what most people mean by “biggest export.”

Why fuel and software lead-and who buys them

Let’s unpack both leaders in plain language.

Refined petroleum products. India has large, complex refineries along the west coast (Jamnagar, Vadinar) and elsewhere. These facilities process crude from the Middle East, Russia, and other sources into fuels with the specs European and Asian buyers need. When crude prices are high and refining margins are healthy, the export value of these fuels shoots up. Even when margins soften, the sheer volume keeps them in pole position.

Who buys? A lot flows through Rotterdam (the Netherlands) because it’s a hub where fuel gets redistributed to Europe. The UAE and Singapore act as trading and bunkering hubs. The USA buys specific grades (especially during seasonal squeezes), and African markets take gasoline and diesel cargoes. This pattern shifted after Europe reduced Russian fuel imports; some trade re-routed, and India’s shipments to Europe climbed.

What could knock fuels off the top? A big drop in oil prices, weaker refining margins, or domestic policy changes that pull more fuel into local use. But even in quieter markets, fuels usually stay near the top because they are high value per tonne and sold in steady volumes.

IT and computer services. On the services side, software and IT services dominate thanks to a deep talent pool, English fluency, and decades of client relationships. Work spans legacy system maintenance all the way to cloud migrations, product engineering, cybersecurity, and AI-related services. The revenue is sticky, billed in hard currency, and spread across many clients and industries, which keeps it resilient.

Where does this money come from? The USA is the largest buyer, followed by the UK and EU. Banking, retail, healthcare, tech platforms, and manufacturing are big client verticals. Even with talk about onshoring, the demand for hybrid delivery (onshore + nearshore + India) stays strong because of cost, speed, and skill availability.

What could change the leaderboard? Three movers to watch in 2025: electronics (smartphones and components), pharmaceuticals (especially generics and vaccines), and chemicals (specialty and organic chemicals). Each has policy support and rising capacity. Gems and jewellery (including lab-grown diamonds) swing up and down with global demand and price cycles.

Notes on the table above: the ranges are indicative because monthly oil prices, global demand, and currency swings move the numbers around. For precise values, use the official monthly releases and annual books listed below. The pecking order-fuel as top goods export; IT as top service-has been consistent in recent years.

Why this matters. If you’re a student, this helps you get a clean exam answer. If you’re a job seeker, it tells you which sectors are growing. If you’re a business, it guides market choices. Big picture, it explains how India earns hard currency: services bring in steady USD flow, and fuels add a powerful, price-sensitive kicker.

How to check the latest numbers yourself (5-minute method)

Trade headlines can be noisy. Here’s a quick, repeatable way to verify what’s on top this month or this year.

1. Start with the Ministry of Commerce & Industry’s monthly “Quick Estimates of Foreign Trade.” Look for the table that ranks top export commodities by value for the month and for the fiscal year to date. You want the line called “Petroleum Products” under HS 27. This is your goods leader.
2. Cross-check with the DGCIS (Directorate General of Commercial Intelligence and Statistics) annual publication for a slower, but very detailed, breakdown by HS code. Use this when you need the full-year confirmation and commodity-level splits.
3. For services, open the Reserve Bank of India’s Balance of Payments (BoP) tables. Check the “Services exports by category” page. The line item you want is “Computer services” (sometimes grouped under “Software services”). That’s the services leader.
4. If you’re double-checking fuel dynamics, the Petroleum Planning & Analysis Cell (PPAC) publishes refinery throughput and product export volumes. When export volumes are strong and crack spreads are decent, the monthly export value of petroleum products almost always tops the goods list.
5. Sanity-check destinations. The Netherlands being a top buyer does not mean Dutch motorists use all that fuel. Rotterdam is a redistribution hub. This explains why the Netherlands often shows up ahead of individual EU countries in India’s export partner tables.

What numbers to write down. For an exam or memo, note three things: (1) the top goods export by name (refined petroleum products), (2) the top services export by name (computer/IT services), (3) one or two top buyer markets (e.g., Netherlands/EU hub, USA) plus a single sentence on why (refinery strength or IT capability). That’s enough to be both accurate and insightful.

Tip for year-over-year comparisons. Use the fiscal year (April-March) that India reports by default. If you’re comparing by calendar year, say so. Oil-price swings can make one year look inflated; the volume trend tells you more than the value spike.

Cheat-sheets, rules of thumb, pitfalls, and quick answers

Rules of thumb.

• If Brent crude is above $80 and refineries are humming, refined petroleum products are almost certainly the top goods export by value.
• If you include services, computer/IT services beat any single goods category almost every year.
• Engineering goods can be the largest “sector” in goods, but it’s a broad basket. The single biggest product group is fuels.
• Electronics is the climber. If smartphone exports keep rising, it may challenge the top three on some monthly prints, but it’s not the leader yet on a full-year basis.

Common pitfalls.

• Mixing up goods and services. State clearly which one you mean.
• Reading “Netherlands” as final demand. It’s mainly a hub; the fuel likely spreads across the EU.
• Chasing monthly blips. One or two months of low fuel exports during refinery maintenance don’t change the full-year ranking.
• Forgetting currency effects. A stronger USD can suppress reported values even when volumes grow.
• Ignoring policy. Export curbs (e.g., on certain food items) can move rankings for a quarter, but rarely displace fuels and IT at the top.

Examples you can use right now.

• Exam answer in one line: “Biggest goods export: refined petroleum products. Biggest export overall including services: computer/IT services.”
• Investor note: “India’s export earnings rely on steady IT services inflows and price-sensitive fuel exports; watch oil spreads and US tech demand.”
• Business pitch: “We target EU demand for compliant fuels via Rotterdam and US demand for cloud/AI services-India’s two top export lanes.”

Mini‑FAQ.

Q: Is “diamonds” India’s biggest export?
A: No. Gems and jewellery can be large and volatile, but refined petroleum products have led goods by value in recent years.

Q: Why does the Netherlands buy so much from India?
A: Rotterdam is a major European port and trading hub. It shows up as the buyer even when the product is headed for several EU countries.

Q: How can India export fuel if it imports oil?
A: It imports crude, refines it, and exports higher-value products. Refining adds value and taps India’s complex refinery capacity.

Q: What about “engineering goods”-aren’t they the biggest?
A: As a grouped sector across many product codes, engineering goods can be the largest in goods. But the single biggest product group is refined fuels.

Q: If AI automates code, will IT exports fall?
A: The mix will change. Routine work may shrink, but demand for platform engineering, cloud modernization, data, security, and AI integration is growing. Net effect so far: stable to positive.

Q: Where do I find official numbers?
A: Use the Ministry of Commerce & Industry’s monthly “Quick Estimates of Foreign Trade” for goods, DGCIS for detailed annual commodity data, the Reserve Bank of India’s BoP tables for services, PPAC for fuel volumes, and NASSCOM for IT services industry context.

Q: What should I watch in 2025?
A: Oil prices and refining margins (fuel export value), US tech spending (IT services), smartphone export momentum (electronics), and US/EU pharma demand (generics).

Next steps by persona.

• Students: Memorize the two leaders (fuel for goods, IT for services) and one buyer hub (Netherlands/EU). Add one reason (“refinery capacity” or “global IT delivery”).
• Job seekers: The export engines signal where demand lies-cloud/AI and cybersecurity on the services side; process engineering, logistics, and compliance roles around refineries and petrochem hubs on the goods side.
• Small exporters: If you’re in electronics, chemicals, or pharma, target buyers in the USA/EU and check tariff preferences and quality standards early. Watch logistics via UAE and Singapore hubs.
• Analysts: Track the monthly goods breakdown (HS 27 for fuels) and the quarterly BoP services tables (computer services). Adjust for Brent and USD-INR when comparing year to year.

Source credibility (no links, where to look): Ministry of Commerce & Industry (monthly foreign trade quick estimates), DGCIS (detailed commodity books), Reserve Bank of India (BoP services by category), Petroleum Planning & Analysis Cell-PPAC (refinery throughput and product export volumes), NASSCOM (IT services industry updates).

If you remember just one thing, make it this: for goods, refined petroleum products are India’s biggest export; for the whole economy’s exports, computer/IT services bring in the most.